HFM information and reviews
HFM
96%
Octa information and reviews
Octa
94%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
Vantage information and reviews
Vantage
85%

Tether Price, USDT/USD Exchange Rates


Current Rating 3
Symbol USDT
Logo
Price change, 1h 0.00%
Price change, 24h 0.04%
Price change, 7d -0.03%
USDT current price $1.00
USDT Market cap $103 589 570 831
Available supply 103 618 183 618 USDT
Volume, 24h $112 119 399 779

The Tether project was initiated in 2015 by the Bitfinex exchange. The main goal was the exchange of real dollars for digital currency avoiding bureaucratic difficulties in bidding, as well as barriers and bans on converting fiat to cryptocurrency. Then, the "digital dollar" was listed by the largest cryptocurrency exchange Poloniex. Traders were advised to use this option as a simplified way to switch from electronic fiat currency to digital money. Many currencies began to trade in pairs with the digital dollar.

The Tether platform is based on the Bitcoin blockchain using the Mastercoin / Omni algorithm and has all the basic characteristics of cryptocurrency. However, its implementation is controversial among users and analysts. The project provides an opportunity to convert any national fiat currency into a digital analogue at the 1:1 ratio. The exchange marker of the selected currency will receive the letter T added at the end. Users will eventually be able to quickly enter real fiat money into trading with digital currencies.

Blockchain has numerous advantages over traditional financial technologies, as it offers cheap, fast and unlimited transactions without intermediaries. However, the volatility of blockchain-based currencies’ exchange rates does not allow them to become widespread. Tether combines the technology of bitcoin with fiat currencies, which allows one to take advantage of blockchain, using a currency backed by the US Treasury or the European Central Bank. According to Reeve Collin, the project’s CEO, Tether converts the dollar into digital form and transfers this digital dollar to the blockchain.

The Tether platform allows one to convert the US dollar, euro or Japanese yen into the corresponding Tether tokens. Tether coins are 100% backed up with fiat currencies on the accounts of the company, which remain completely transparent and audited to guarantee full compliance with the declared reserves. Tether can be exchanged for the respective currencies using the platform at any time.

Tether uses the mastercoin / omni protocol to create tokens. Thanks to Omni, Tether transactions are hashed and passed through Bitcoin blockchain, where they are checked by Bitcoin-miners along with other transactions. Transfers between Tether wallets are completely free.

For many ideological fans of Bitcoin Tether is too similar to a fiat currency –  and not because of its link to the dollar. Tether is also centralized, requires permission to use and depends on the users' trust in an organization – which is the opposite to the principles on which bitcoin is based.

USDT/USD Price and Exchange Rates Charts

USDT/USD Price, Exchange Rates chart – 7 days

USDT/USD Price, Exchange Rates chart – 30 days

USDT/USD Price, Exchange Rates chart – 60 days

* Forex Rating accepts no liability for any errors in the Tether Price or USDT Information. For the most recent information please visit the Tether official site.

Top Cryptocurrencies

# Cryptocurrency 7 days
1 BTC Information Bitcoin -10.2%
2 ETH Information Ethereum -16.39%
3 USDT Information Tether USDt -0.03%
4 SOL Information Solana 19.77%
5 BNB Information BNB -1.76%
6 XRP Information XRP -14.25%
7 USDC Information USDC 0.03%
8 ADA Information Cardano -17.99%
9 AVAX Information Avalanche 19.32%
10 DOGE Information Dogecoin -24.28%
11 SHIB Information Shiba Inu -23.25%
12 DOT Information Polkadot -15.29%
13 TON Information Toncoin -0.79%
14 TRX Information TRON -8.71%
15 WTRX Information Wrapped TRON -8.86%
16 STETH Information Lido stETH -3.32%
17 LINK Information Chainlink -16.18%
18 WBTC Information Wrapped Bitcoin -10.06%
19 MATIC Information Polygon -20.05%
20 BCH Information Bitcoin Cash -14.44%
Cryptocurrency Rating

Top Bitcoin Brokers

All Bitcoin Forex Brokers

BTC/USD Forecasts

Pushing down crypto isn't easy
Pushing down crypto isn't easy

Buying on dips remains the dominant tactic in the crypto market. Capitalisation rose 1.8% in seven days to $1.65 trillion. Previously, the 'what doesn't rise, falls' formula was often applied to cryptocurrencies, however, recent attempts to sell off after a period of stabilisation have been met with increased buying.

5 Feb 2024

Crypto has retreated from the lows, but no rush for growth
Crypto has retreated from the lows, but no rush for growth

Crypto market capitalization at around $1.62 trillion is less than 1% higher than it was seven days ago, thanks to a growth spurt on Friday. Bitcoin has added 3% in the same period and continues to be the driving force behind crypto volatility.

29 Jan 2024

Ethereum could end consolidation with a dip towards $2000
Ethereum could end consolidation with a dip towards $2000

Volatility in the cryptocurrency market remains subdued, keeping the capitalisation near $1.56 trillion for the third day. Meanwhile, Bitcoin remains around $40K, and Ethereum looks pegged to $2200...

26 Jan 2024

The Crypto Market Takes a Breath after the Storm
The Crypto Market Takes a Breath after the Storm

The crypto market saw lower volatility in the last 24 hours, with capitalisation at $1.56 trillion and the price of Bitcoin hovering around $40K. Major altcoins have also avoided strong moves...

25 Jan 2024

Global risk appetite pauses crypto sell-off
Global risk appetite pauses crypto sell-off

Bitcoin reversed to the upside on Tuesday afternoon. The price drop to $38.5K attracted buyers on the background of another update of all-time highs by leading US indices, which supported risk appetite...

24 Jan 2024

Crypto's decline looks more like a sell-off than a correction
Crypto's decline looks more like a sell-off than a correction

The crypto market lost over 5% in 24 hours, to $1.52 trillion. Bitcoin has remained under pressure since the start of the week after pausing in the sell-off on Saturday and Sunday...

23 Jan 2024

MultiBank Group information and reviews
MultiBank Group
84%
XM information and reviews
XM
82%
FP Markets information and reviews
FP Markets
81%
FXTM information and reviews
FXTM
80%
AMarkets information and reviews
AMarkets
79%
BlackBull information and reviews
BlackBull
78%

© 2006-2024 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.